<p><strong>New Delhi: </strong>The Cryptocurrency market has taken a hit amid the fear of the new Covid variant first detected in South Africa. The price of Bitcoin, the world's oldest and largest Cryptocurrency, fell 9 percent, nearly Rs 4 lakh, to about $53,552 on Friday. It later gained its value somewhat and Bitcoin was seen trading nearly 7.30 percent lower at $54,695.</p> <p><strong>Ether also declines</strong></p> <p>At the same time, the price of the second largest Cryptocoin, Ether, fell by up to 12 percent on Friday. Although it improved slightly later, it was trading at a price of $ 4,087, down 9.69 percent. At the same time, about 8.3% in Dogecoin, while Shiba Inu was trading with a fall of 5%.</p> <p>Bitcoin's price hit its record high this month, since which it has fallen by nearly 20 percent. Its price reached $69,000 earlier this month, when Bitcoin's first exchange-traded fund in the United States was allowed to trade.</p> <p><strong>Cause of decline</strong></p> <p>Currently, the price of bitcoin is near its 100-day moving average of $53,940, which can act as a support base in case of further drop. In some countries of South Africa, there was a panic in markets on Friday as a new variant of the Coronavirus was found. The US stock market opened in the red mark and the Indian stock market saw the biggest fall since April.</p> <p><strong> Also Read: </strong></p> <p><strong><a href="https://ift.tt/3I1dlCj Pension: Want pension every month for the rest of your life? Apply quickly in these government schemes</a></strong></p> <p><strong><a href="https://www.abplive.com/business/rbi-gold-buying-you-can-get-sold-bonds-from-rbi-it-starts-from-november-29-2006003न">RBI Gold Buying: Now you can buy gold from RBI, get chance for just 6 days, read full news</a></strong></p>
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